The CBI has apprehended five individuals, which includes two retired officials from the Rail Land Development Authority (RLDA) and Bank of Baroda, over allegations of embezzling Rs 31.50 crore.
These arrests were made on Monday.The arrested suspects, namely RLDA’s former manager Vivek Kumar, former Bank of Baroda branch manager Jaswant Rai, along with three private individuals – Gopal Thakur, Hitesh Karelia, and Nilesh Bhatt, were presented before a special court.
They have been remanded to judicial custody.The case was initiated by the RLDA, which claimed a loss of Rs 31.50 crore due to unidentified individuals. According to a CBI spokesperson, the RLDA initially invested approximately Rs 35 crore in a fixed deposit at the Bank of Baroda’s Vishwas Nagar branch in Shahdra, Delhi.
Subsequently, the maturity proceeds were supposed to be reinvested for three months.However, the bank allegedly invested only Rs 3.50 crore, while the remaining Rs 31.50 crore was diverted to various shell companies with the involvement of bank officials, RLDA personnel, and private individuals.
This misappropriation was carried out through forged letters and advisories, purportedly issued by RLDA officials.The CBI spokesperson also mentioned that searches had been conducted at 12 different locations, including Delhi, Mumbai, Goa, and Himachal Pradesh.
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